Get Covered: Understand Health Insurance Plans

Health insurance is a good idea – it’s good for your finances and for your health. It is also now a legal requirement for most Americans, and help with paying for health is now available to most people with moderate incomes.

Find out if you can use the Premium Tax Credit to help you pay the health insurance premiums for a plan purchased in the Marketplace.

Find and compare good-quality private health insurance plans available in your state. In the Marketplace it’s easy to compare different policies side-by-side so you can choose the one that best fits your needs.

Get covered! Most people must have health coverage in 2014 or pay a fee. If you don’t have coverage in 2014, you’ll have to pay a penalty of $95 per adult, $47.50 per child, or 1% of your income (whichever is higher). The fee increases every year. Some people may qualify for an exemption to this fee. If you enroll by March 31, 2014, you won’t have to pay the fee for any month before your coverage began.

Marketplace open enrollment for 2014 ends March 31, 2014. The proposed open enrollment period for 2015 is from November 15, 2014 to January 15, 2015.

Resources are important whether you are looking to rent your first apartment, pay your bills, buy your first home or send your child to college. There are many ways to save money to reach your goals, and hopefully ISU Money Tip$ will be one of them. I enjoy traveling, needlework and am a novice gardener.